Opportunities presented by an aging population will not be fully realized unless business leaders act now to prepare for this irreversible shift in demography. To discuss the significance of population aging for the business sector and society at large, the Milken Institute Center for the Future of Aging, with the collaboration and support of the M Center of Excellence at The American College of Financial Services, convened the 2017 Summit on Business and the Future of Aging in Los Angeles.

This report includes commentary from the summit’s participants, as well as data and insights from multiple sources and identifies opportunities, innovations, human capital strategies, and forward-looking policies and practices to realize the upside of aging. It offers thoughtful, fact-filled assessments of the growing economic power of older adults, the underutilized resource of mature workers, advances that can dramatically extend lifespan, health and productivity, and a call to action.

Key Insights

By the end of this decade, annual consumer spending by age 60-and-over adults globally will reach $15 trillion (Bank of America Merrill Lynch)